Key Takeaways
Why are traders turning bullish on PEPE?
Spot Taker CVD flipped buyer-dominant, while whale order sizes climbed 0.12%.
What levels could define PEPE’s next move?
Holding $0.0000060–$0.0000065 could lift price toward $0.0000074 liquidity pockets, while losing support risks a drop below $0.0000050.
The memecoin market continued to struggle amid broader market weakness. Pepe [PEPE] was down by 1.43% at press time, with trading volume surging by 60%.
As PEPE traded at a discount, a newly activated whale wallet transferred 281 billion tokens from Binance, according to The Data Nerd, a move seen as bullish for the memecoin, with additional positive signals beginning to surface.
Whales show signs of life
The Spot and Futures Average Order Size data on CryptoQuant supported this rising whale activity. Big whale positions started spiking in mid-October, with an average increase of 0.12% since then.
On the other hand, the frequency of retail activity was neutral on both Spot and Futures markets.
Furthermore, since mid-September, buyers have dominated the Spot Taker Cumulative Volume Delta (CVD). This further added to the rising bullish signals seen in the PEPE memecoin.
Source: CryptoQuant
All these signals suggested a potential bullish reversal in the struggling price action. With that in mind, does the structure align with this potential?
What’s next for PEPE?
Examining the price action charts, PEPE was consolidating above a key level around $0.0000060. This was after the price action broke below a triangle pattern that had formed since early May.
Interestingly, PEPE was trading above the key support that triggered a move past $0.000015. This was after a double bottom pattern that indicated the end of the bearish outlook that started after the December 2024 highs.
Staying above the $0.0000060 zone could ignite a bullish reversal, complementing historical pattern repetition. The zone has had triple rejections against a breakdown and continues to do so.
The MACD turned positive but weak, while the Chaikin Money Flow (CMF) hovered at 0.02, implying limited capital inflow.
Source: TradingView
Alternatively, a breach of the support holding price could see the memecoin revisit 2024 lows at $0.0000010. However, this would mean breaking below the key structural point at the $0.0000050 zone.
Liquidity levels offered key insights on which levels to watch in the short term.
What traders are watching next
After clearing massive liquidity around $0.0000068, PEPE bounced back, taking orders at $0.00000696, then reversing downward. As the downside risk holds, the next level rested around $0.00000669.
The liquidity levels above PEPE’s price were concentrated between $0.0000071 and $0.0000074. These liquidity clusters could pull the price, resulting in PEPE’s appreciation.
Source: CoinGlass
With more liquidity resting above current price action, the more likely scenario was a move higher from current levels. This was backed by the bullish signals emerging from CVD whale orders and structural outlook.
